South Korea Takes Major Step towards Cryptocurrency Transparency: 5,800 Officials to Disclose Holdings in 2024

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South Korea Takes Major Step towards Cryptocurrency Transparency: 5,800 Officials to Disclose Holdings in 2024
South Korea is set to begin disclosing the cryptocurrency holdings of top public officials beginning in 2024, marking a monumental push toward transparency and accountability in government services. According to an announcement from the Ministry of Personnel Management, approximately 5,800 elected officials and government employees will need to report their crypto assets next year.
The disclosures are part of South Korea’s public ethics and transparency initiative system, which tracks property registration and reviews for public service members. The requirements come on the heels of new legislation passed this May that now includes cryptocurrency as a mandatory component of yearly asset declarations.
By compelling influential political leaders and bureaucrats to share their virtual currency investments, the country hopes to heighten transparency surrounding publi

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